Housing Needs Assessment

Purpose:

The City of Tampa is committed to providing attainable and affordable housing to meet the needs of the current and future population. The City of Tampa, in coordination with the Hillsborough County City-County Planning Commission, is in the early stages of updating the City of Tampa Comprehensive Plan, including the Housing Section of the Plan. To further this commitment, the City will be developing a Housing Needs Assessment. The Assessment will include an analysis of the existing demographic, economic, and housing market conditions within the city, as well as an evaluation of existing policies and regulations related to residential development. The Assessment will also include a detailed housing demand forecast through the year 2045. Based on this information, the Assessment will develop recommended policy and regulatory language to support updates to the Tampa Comprehensive Plan and Land Development Code, optimizing and increasing the overall housing supply to meet the current and future needs of the community.

Key Findings

There is a definite need for affordable housing in Tampa, both now and in the future, especially for those who earn less than 60% of the Area Median Income. Since 1986, Low-Income Housing Tax Credits – both 4% and 9% - are typically used to help meet that demand, along with Housing Choice vouchers. While the Live Local Act provisions will help developers fill the demand for housing for the 80%-120% of AMI households, it will not support very low and extremely low-income unit demand. 
 

The plan includes the procedural and code recommendations, as well as increasing the support for the number of LIHTC applications submitted each year to help meet the demand of affordable housing.